The Last Lecture

If I were to give anyone starting out their entrepreneurial journey some advice, I will first tell them that they can do hard things. If they haven't had any significant challenges in their life and overcame them, then they are lacking valuable experience to help them on their journey. When they face challenges, face them head on. It is easy to say now, but when we first experience a trial, our first instinct may be to avoid it at all costs. We have to train ourselves to welcome the challenge. That is the only way we can truly gain valuable experience that we can use and build on.

I will also suggest that they do not set their sights on money, fame, or power. It may seem common sense when we are at the bottom of the ladder, but as we climb, they become even more alluring. Set worthy goals early on, and figure out what is important right now. It is important to set priorities now, and hold to them. Schedule other, less important items around your priorities, so you can keep a good balance. You don't want to look back on your life and regret not learning a new skill or spending more time with family.

Money is not evil, it just depends on how it is used. Money can provide a good living, fight hunger, help give service, donated to a good cause, etc. Or it has the power to ruin nations, tear families apart, fund evil practices, etc. I heard a saying that money can turn a great man greater, a good man bad, or a bad man worse. Consider what you might do with the wealth you may attain, and prepare yourself to be able to handle it responsibly.

Also consider the impact you can have on the world, to improve conditions, to change people’s lives for the better. What is your true motivation? Will you stick to your morals when the time comes that they are tested? There is much success to be had at the end of the journey, but it requires effort. Persistent effort. If you can attain one trait, it should be persistence. That is what will drive you to keep trying even when others would have normally given up. There is no better reward than to succeed after you have tried over and over again only to fail.

Keep your head up, and remember that there are those around you that will be there to support you along the way. I believe in you. I know you can do it. It is up to you to take the first step.

Attitude of Gratitude

Sometimes we devote ourselves to searching for the next big thrill, for more money, a promotion, the next big thing. We have to take a step back and take a look at what we have and not take it for granted, because then all of our work doesn't mean much. It is also important to be grateful for the right things like family, a home, friends, etc. When we become consumed in worldly things and are grateful that we have more things than others is where we will have gone the wrong way.
I hope to be down to earth and constantly be evaluating where my life is and rebalance it if need be. When I am grateful for what I have, it helps me to see that I really have what I need. I also realize that any material possessions I have, are borrowed in this life. The only things I can really take with me beyond this life are my memories and knowledge. It is important to create good memories, which include time with family. I don't want to die with any regrets of not spending time with family and being thankful for what I had. 

Changing the World

Having the ability to change the world is not limited to the few. Anyone has the potential to make the world a better place. I don't believe the world can become a perfect place, at least in this life. I do hope that we can all live in harmony and become close to a perfect place. The one struggle I see is that perfect is relative, so many people have different perspectives of what perfect is. But changing the world for the better, is a worthy goal. Even if someone has a different perspective on it.
I would hope that an entrepreneur's primary goal is to make the world a better place. Even if it only means the world around them. I hope to be able to change the world by how I treat others and serving others. That is what is under my power at the moment. Hopefully in the future, it will mean being able to give more of my time and money to those who really need it. In order to make a better world, it will require selfless acts.

Balancing Life

Creating a life of balance is a struggle because it is so easy to get caught up in one thing whether it is work, a new hobby, etc. When it comes to balancing life, it is really about setting priorities. We only have so many hours in a day. We have to decide what we do with each of those hours and minutes. At the top of my priorities is family, church, work, school, and fitness. If I balance my life, I should schedule these priorities first, and then fill in the spaces with other less priority items. Having a balanced life works together, because my relationships can affect how well I work or focus. It is important to remember that balancing my life will lead to more satisfaction.

Satisfaction also comes from overcoming challenges and trials. These are opportunities to learn and grow, and when they are over and we come out victorious, it brings an immense amount of satisfaction. I have learned to look forward to the next challenge, because it is an opportunity to grow. I may hesitate at first, because I know it will be hard, but I also know that I will be improved at the end. I think it can be said that good entrepreneurs have a well-balanced life and are capable of working through challenges.

Dream Big

Thinking about my dreams, what I want to accomplish in life, gives me energy and excitement that drives me towards accomplishment. Having an end goal in sight keeps us going, even when it gets hard sometimes. Dreams should not be vague, specific dreams keep it real and exciting. Saying that I want to be successful and have a family, is good and all, but doesn't get me through the hard times. Focusing on the right goals that are clear, and acting on it, will get me there.
Isn't it strange how the first steps are the hardest? But after you take them, it is easier to keep going after that? Getting up out of bed, going running, getting up out of a chair, etc. For me, getting that initial start gets me rolling, but it takes some convincing at first. I always feel like I accomplished something and feel good afterwards. The key is deciding upon something and then DOING it!

Loyalty and Leadership

Above all, I believe being an entrepreneur to me means being true to myself and being true to what I believe. Loyalty is, of course, a great character trait to have. What we are loyal to may also tell us what we really see as important in our lives. If I am loyal to God, people will know it, because I will live the way he wants me to live. I will be devoted to honoring him, pleasing him, and sacrifice things for him. The same can be said for our families, spouses, friends, and even our jobs. When we become loyal to the wrong things is where we can get in trouble. Petty things like TV, material things, etc. are examples of where my loyalty should NOT lie.
In order to be a leader, I need to convince people to be loyal to me, but not that they would be devoted to me. They would be devoting their time and energy towards the company, and I hope towards good values. Leadership is an important role, because people will be looking up to me as an example. Not that I want the attention, but I do want to be a good example and show people there is a better way to do things.

Overcoming Challenges

Challenges are... well, a challenge! If challenges were easy, then how would anyone ever learn. Challenges are opportunities for growth throughout life. At the beginning of life, there are many challenges we face, and they are placed right in front of us. We have to overcome them to progress, like learning to communicate (talk), learning to walk before running, and so on. Later in life, we seek after challenges like learning and competing in a sport, furthering our education, starting our own business, and so on. One reason I want to become an Entrepreneur is because I know it will be a challenge. It will be a challenge that I will be excited about, and I hope to learn as much as I can.
Challenges take effort to overcome, and sometimes I am tempted to not put forth the required effort, or to give up on a challenge. I liked Jeffrey R. Holland's advice to keep going, that good things will come. Life should be about embracing challenges instead of trying to avoid them. I hope when the time comes, that I will have the strength of character to embrace and endure those challenges that will help me grow and rise to the next level.

Moving Forward

It is important that I am always striving to move forward. There will be setbacks and lags, but as long as my general direction is headed towards progress, then I will feel successful in the end. My progress can only be initiated and controlled by myself. Within me is the characteristics I need to develop and strengthen to progress. Characteristics that I would like to hone in are: integrity, courage, virtue. I would like to be someone can say is capable of following through with a job and that is is done well. What I find exciting in life is the opportunity to become better and stronger in all aspects of life. This is only done when effort is port forth towards these goals.
I realize that I am only in the beginning stages of my career, and I still have much to learn. I see others who have advanced in their careers and are closer to retirement. Their experience has been amazing and rewarding although it may not have been easy. Ease is appealing, but does not yield much growth. I know that in order to be where those experienced veterans are, it will take overcoming hard things and being willing to accept challenges. I don't want to be one of those who retire with not much to show for it.

Mastery

Becoming a "master" at something is a journey, it takes time, energy, persistence, practice, and it never ends. Self-mastery is a hard thing to do, because I am human and make mistakes, I often do not make the right choices or control my actions. This is also a journey that does not end. When I make mistakes, I know I have help to lift me up again. I have hope and courage that I can get up and try again. I believe this is a quality of an entrepreneur. We will always have support as long as we are on the path of self-mastery.
One thing I want to become a master of is how I choose to spend the time that I have. I realize time is a valuable resource and it is very limited. These decisions determine my success, because if I spend my time wisely it will help me toward my goals and endeavors. When I waste time, it puts me behind, and I feel unaccomplished. Time management will help me prioritize what I choose to do with the time I am limited to. It will help me be efficient and be able to accomplish more in life than I would otherwise expect to. I will feel more fulfilled.

Are successful people lucky?

If I could take one thing away from what I have learned this week, it is that successful people may have been lucky, but that luck did not make them successful. When it comes down to it, it is hard work and persistence that gets them to where they are. They get back up when the fall. Jeff Sandefer interviewed some successful individuals in terms of money. He asked them if it was skill, character, or luck that got them to where they were. One of them that was a proponent of character said that being persistent was the key element in success. Luck was the difference between being a millionaire and a multimillionaire. They would have been successful anyways, because they had character. People get lucky all the time, they come into an inheritance or win the lottery, but if they can't handle it and aren't ready for it, they won't be successful.
I have also been asking myself why I want to be an entrepreneur and thinking about what it is going to take. I see entrepreneurs as making a difference in the world, striving to make it a better place. All the while they risk success or failure. They are starters, organizers, planners, creators, and much more. They endure hard things, and are able to overcome, because that is what they do. It seems like this is what all human being should strive for. This is what I hope to strive for.

How will you measure your life?

One of my fears is that I will get old and look back on my life and feel like I could have done more. I fear that I won't accomplish everything I wanted to. I want to have had a "full" life, with experiences, stories, and been successful at work, home, and at church. That is one reason I like the sound of being an entrepreneur, because I feel like it will take me down the path to accomplishing many things.
Elder Christensen put it into perspective for me when he said, "I’ve concluded that the metric by which God will assess my life isn’t dollars but the individual people whose lives I’ve touched." He also encourages us to have a clear purpose in life and live by it. I don't want to wait for the purpose to find me, because it may be too late by then. It is my responsibility to seek it out and ask for God's help in figuring it out, like Elder Christensen did. 
In order to be successful, I feel like I will need to learn to become good at balancing many things. There will be a lot of things that will fight for my attention like work, family, church callings, hobbies, self improvement, etc. The important thing will be to set my priorities now and align them with my purpose in life. I want to go by God's measuring system.

 

Honesty and Business Ethics

I believe being honest and ethical is key to doing business. It is important that the people that I make business relationships with can trust me and believe that I will keep my word. Especially with a startup business, it is crucial that you get customers. You need customers that are willing to trust that you can deliver. Your business is new and they know little, if anything, of your business. They could have gone to a different business they know well, but they are taking a chance on you, so you have to earn their trust. To have long term success in business, honesty is essential.
I appreciated Frank Levinson's advice on starting a business. He advised that when starting up a business, to avoid using Venture Capital. He said use your money, bank money, etc. Venture Capital can come later when you are needing the money to accelerate growth.
On another side note, I have been thinking about my motivations for being an entrepreneur. I am becoming more aware of the hardships that I may face in starting my own business. I keep hearing that you need to put everything you have into your young business if you want it to work. I realize it will take long hours, but will it it be worth the sacrifice? I hope it will be. I liked Frank Levinson's advice again, where he talked about having his family come to his office so he could spend time with them at work. Even at Christmas, they went to his work to help fill orders, then made it home to finish opening presents. I know it will take sacrifice, patience, hard work, and hopefully success will come out of it.

Create a life of Meaning

Last week my wife saw my initial post, and said, "Did you read over this?" Haha, I must have been trying to sound smart again. She laughed and I told her it is just me reflecting and saying what I am thinking at the time.

I really like learning how others have made their lives successful, especially entrepreneurs, because I see them as "go getters." Randy Haykin was a good example of knowing what he wanted and doing everything he could to get there. He also kept his priorities straight and did all he could to stick to them. He valued family, and so he made the effort to spend time with them, even when it was hard and time was limited. He also experienced failures, which happens in life. He would help businesses grow, and they would put their heart and soul into it, and in the end it didn't work out. He was able to pull away life lessons from them and use that in future endeavors. What a good outlook on life.
I am still at the point where I am trying to figure out where I want to be in 10 years. What I want to have accomplished, my quality of living, etc. Listing out 50 things I want to do help me put this into perspective and hopefully into action. There are some things that may take some time and can't be started quite yet, like earning an MBA or having children. But some things I can start right away or at least start planning to get them done soon, like going to Alaska or learning Spanish. I can use this list to always stay busy and keep my life from getting dull.

The Beginning

This is my very first post in my entrepreneurial journal. The idea of being an entrepreneur at first scared me because I felt like there wouldn't be direction, I would be on my own and it would be hard. I know it will still be hard, but I know now that the direction is determined by where I want to go and there will be people along the way to help me make better decisions. Guy Kawasaki gave me the idea that money shouldn't be the ultimate goal, but to do what I love to do. I also have a desire to take paths that other people haven't taken or create my own paths. I know there are plenty of people who are more able and smarter and more motivated than I am. I would like to learn from them and their mistakes and go out and make some more mistakes in my entrepreneurial journey.
Elder Bednar's counsel when he was president of BYU-I gives me inspiration and encourages me to be my best self and to be more capable when I graduate. I hope I will be able to take away as much as I can in my duration at BYU-I by building myself spiritually with a mighty heart and mentally with a strong mind.